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The EUR/GBP pair tried to rally during the day on Thursday, but failed to hang on to most of the gains. If we can break down below the bottom of the range for the session, I believe that the market should continue to go lower, perhaps breaking down below the complex head and shoulders that is so obvious on this chart. If that’s the case, this could move the market much lower over the longer term and have sellers jumping into this market place. Ultimately, I believe that the 0.85 level above is going to be massively resistive anyway.

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